Deere & Company (NYSE:DE) Stock Position Reduced by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury trimmed its position in Deere & Company (NYSE:DE) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,216 shares of the industrial products company’s stock after selling 5,849 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Deere & Company were worth $33,140,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SkyView Investment Advisors LLC boosted its holdings in shares of Deere & Company by 6.6% in the 3rd quarter. SkyView Investment Advisors LLC now owns 1,098 shares of the industrial products company’s stock valued at $458,000 after buying an additional 68 shares during the period. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Deere & Company by 13.9% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,879 shares of the industrial products company’s stock valued at $4,131,000 after purchasing an additional 1,205 shares during the last quarter. Arvest Bank Trust Division acquired a new stake in shares of Deere & Company during the 3rd quarter worth approximately $1,252,000. Wilmington Savings Fund Society FSB lifted its holdings in shares of Deere & Company by 162.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 21,563 shares of the industrial products company’s stock worth $8,999,000 after purchasing an additional 13,334 shares during the last quarter. Finally, Tidal Investments LLC boosted its position in Deere & Company by 56.3% during the 3rd quarter. Tidal Investments LLC now owns 38,689 shares of the industrial products company’s stock valued at $16,146,000 after purchasing an additional 13,934 shares during the period. 68.58% of the stock is owned by institutional investors and hedge funds.

Deere & Company Trading Down 2.3 %

Shares of NYSE DE opened at $441.89 on Tuesday. The company has a quick ratio of 1.98, a current ratio of 2.22 and a debt-to-equity ratio of 1.94. Deere & Company has a 12 month low of $340.20 and a 12 month high of $515.05. The company has a market cap of $119.94 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 2.14 and a beta of 1.00. The business has a fifty day simple moving average of $469.08 and a 200-day simple moving average of $445.21.

Deere & Company (NYSE:DE) last announced its earnings results on Thursday, February 13th. The industrial products company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.14 by $0.05. Deere & Company had a net margin of 12.94% and a return on equity of 27.31%. Sell-side analysts predict that Deere & Company will post 19.32 EPS for the current year.

Deere & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 8th. Shareholders of record on Monday, March 31st will be paid a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a yield of 1.47%. The ex-dividend date is Monday, March 31st. Deere & Company’s dividend payout ratio (DPR) is currently 28.72%.

Insider Transactions at Deere & Company

In related news, insider Rajesh Kalathur sold 24,580 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $500.61, for a total transaction of $12,304,993.80. Following the completion of the sale, the insider now directly owns 74,878 shares in the company, valued at approximately $37,484,675.58. This trade represents a 24.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is currently owned by insiders.

Analyst Ratings Changes

DE has been the topic of a number of recent research reports. Oppenheimer raised their target price on Deere & Company from $477.00 to $507.00 and gave the company an “outperform” rating in a research note on Tuesday, January 28th. Robert W. Baird reiterated a “neutral” rating and issued a $501.00 price objective on shares of Deere & Company in a research report on Monday, March 3rd. Truist Financial reissued a “buy” rating and set a $546.00 target price (down from $550.00) on shares of Deere & Company in a research note on Friday, February 14th. StockNews.com cut Deere & Company from a “hold” rating to a “sell” rating in a report on Sunday, April 6th. Finally, Baird R W lowered Deere & Company from a “strong-buy” rating to a “hold” rating in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $459.89.

Deere & Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.